President Buhari has accepted an invitation from the Saudi Crown Prince, Mohammed bin Salman, for the establishment of Nigeria- Saudi Council.

The council is aimed at promoting investments and enhancing relations between both countries.

According to a press release from the presidency, the decision was the highpoint of a bilateral meeting between the Nigerian leader and the Crown Prince which took place on the margins of the Future Investment Initiative (FII) conference.

The meeting was initially scheduled to hold in the office of the Crown Prince but out of courtesy and respect for the Nigerian leader, Prince Salman insisted that he would meet with President Buhari in his hotel room at The Ritz Carlton, Riyadh.

The Council will be made up of government officials and business leaders from both countries and the areas of focus are: economic growth and development, investments in oil and non-oil sectors, and security cooperation.

Meanwhile, president Buhari and the Crown Prince agreed that the first assignment for the Council is to establish a legal and operational framework that will facilitate investments beneficial to both countries.

The Council will be established in the next two months while meetings will be held twice every year.

To ensure that relations between both countries remain active, it was also agreed that leaders of both countries, at the highest level, will meet at least once every year to review the progress of the joint council and ensure closer collaboration on issues of mutual interest.

In his response, President Buhari thanked the Crown Prince for the Kingdom’s interest in investing in Nigeria and the initiative to establish the Council which would form the foundation for a stronger Nigeria-Saudi relationship.

“Nigeria has a large population mainly made up of dynamic, young people & partnerships of this type will help them to be productive & prosperous,” the President said.

He also assured his government will continue to provide the enabling environment for businesses to thrive in the country.